D-Limonene Market is Expected to Hit $0.45 Billion By 2022: Credence Research

According to a new market report published by Credence Research “D – Limonene Market – Growth, Future Prospects, Competitive Analysis, and Forecast 2016 – 2022,” the d – limonene market is expected to reach over US$ 0.45 Bn by 2022, expanding at a CAGR of more than 4.5% from 2016 to 2022.

Market Insights

Limonene is a liquid hydrocarbon which is colorless and is classified as a cyclic terpene. The isomer of limonene is d – limonene. It is basically used in chemical synthesis and as a renewable solvent in cleaning products. D – Limonene is also known as a cleaning formulation ingredient that is extracted from oils which are present in orange rinds. The pleasant lemon like aroma of d – limonene makes it a major constituent in several citrus oils. Because of its aroma, d – limonene is used as a fragrance and flavor additive in soaps, perfumes, food, beverages, chewing gums and cleaning products.

Decrease in usage of ozone depleting chemicals and chlorofluorocarbon (CFC) is the major driving factor for growth of global d – limonene market worldwide. In addition, growing demand for d – limonene as a solvent for replacing toxic materials from the solvent blends is another factor boosting growth of global d – limonene market. Based on applications, the global d – limonene market is segmented into personal care precuts, air care products, cleaning and furnishing care products, electrical and electronic devices, food additives and others. Among these, personal care products accounted for major share of global d – limonene market in 2015 and are expected to increase in the near future. D – Limonene is used in various personal care products such as soaps, creams, lotions, oils and perfumes among others. Hence, high demand is reported for d – limonene from the personal care products industry. Other applications are also expected to boost high demand for d – limonene as it is used in wide range of cleaning products for various applications. Therefore, d – limonene is anticipated to experience high demand from various end-user industries worldwide in the near future.

Latin America accounted for major share of global d – limonene market as Brazil is the major orange producing country. North America followed Latin America in terms of demand for d – limonene in the market. U.S. dominated the global d – limonene market in terms of demand due to increasing use of d – limonene in end-user industries in the country. High demand for d – limonene from the personal care products industry is driving the growth of global d – limonene market in the region. Asia Pacific accounted as the third largest region for d – limonene worldwide and is anticipated to fuel market demand in the near future. Increasing demand for d – limonene from the chemical industry has boosted market growth in the region. Other regions such as Europe and Middle East & Africa are also projected to fuel demand for d – limonene during the forecast period from 2016 to 2022.

Key Trends:

Manufacture of personal care products

High demand as solvent from the chemical industry

Replace toxic materials in solvents and an alternative to harmful ozone depleting chemicals

Opportunities from increasing research activities for increase in application scope of d – limonene from various end-user industries

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